Owner Michael Cefaratti, who had previously toured the U.S. under the name Cef Michael for three and a half years playing his own music, said that their summer business was down 60-80%. He said that there was a lack of foot traffic on Monmouth Street, which led to the decision to close.

"We had so many obstacles to overcome. Eventually we sadly realized it was too much," he said. "We built a beautiful patio, only to be told we couldn't have live music outside."
Cefaratti said that he also acquired 830 Monmouth Street in a lease-purchase agreement, formerly Shortneck's bar, which is now being used to store restaurant equipment.

"Our eventual goal was to try to combine the two buildings," he said. "I truly bought into the whole 'Bring Monmouth Back' slogan and that's why we acquired the building next door. If we would have been able to do what we envisioned, Bourbon and Broad could have been an incredible anchor for the south end of the street."

Cefaratti said his goal was to combine 828 and 830 Monmouth St. to create a large footprint. The two buildings formerly housed Shortnecks and Bourbon and Broad. They are now both closed. Via Google.

Cefaratti addressed the closure of Bourbon and Broad on his Facebook page last week, in more detail. This was part of his message:

This is an advertisement.

Over the past 48 hours, we decided to close Bourbon & Broad. Our tax issues with the state could not be resolved in time. I had pretty much decided this past weekend, that this was the path. The conversations over the past 3 days solidified the decision.Looking back, I wish I had decided the last week of October, to pull the plug. I probably could have pulled another rabbit from the hat, and found a way, but enough was enough. This was a losing battle. I leaned on a few close friends in the past 8 weeks or so, and I wish I hadn't. Doing it one last time, would have been reckless.I'm going to play music this weekend in Florida, and figure out the next move. To all of you who have stood by me, my dreams, and all endeavors, Thank you. I've been very blessed to have been shown so much love for so many years. There's a lot of you that I never would have met without Bourbon & Broad. For that I am so thankful.

According to public records, the building at 828 Monmouth has been owned by EGC partners LLC since 2010 and is appraised at $250,900. The Campbell County PVA records indicate the owners of 830 Monmouth is Monmouth EFM LLC and is appraised for $140,000.

In the same 900 block just a buildings south, another bar had also recently closed.

Birk's Bar, also located on Monmouth Street, closed down on October 31 after owner, Nate Birkley sold his liquor license to the building owner. He said the owner's husband died and that she wants to sell the building.

"It was pretty much out of hands since I didn't own the building," said Birkley. "Most of the buildings in Monmouth are up for sale. I'm thankful for the experience but onto the next chapter."

Birk's Bar, which was located at 912 Monmouth St. and owned by Monmouth Street Investments LLC, has an appraised value of $97,200.